February 3, 2015 / 6:04 PM / 3 years ago

Valeant in talks to buy Salix Pharma - Bloomberg

Feb 3 (Reuters) - Canadian drugmaker Valeant Pharmaceuticals International Inc is in talks to buy Salix Pharmaceuticals Ltd, Bloomberg reported, citing people with knowledge of the matter.

British drugmaker Shire Plc is also interested in Salix, the report said, citing sources. (bloom.bg/1Da0N5B)

The U.S. drugmaker, which had a market capitalization of $8.52 billion as of Monday’s close, said last week it would restate its financial results for the past seven quarters due to inventory problems that led to a management change.

Salix was not immediately available for comment. A Valeant spokeswoman said the company does not comment on market rumors.

Salix has hired investment bank Centerview Partners Holdings LP to explore options, including a sale to a larger drugmaker, Reuters reported last month.

Salix’s shares were up 4 percent at $138.77 Tuesday afternoon on the Nasdaq. The stock has gained nearly 30 percent since Dec. 16, when the company detailed plans to clear up inventory.

U.S.-listed shares of Valeant were down about 3 percent at $157.43 on the New York Stock Exchange. (Reporting by Vidya L Nathan and Natalie Grover in Bengaluru, Rod Nickel in Winnipeg; Editing by Saumyadeb Chakrabarty)

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